Notes to SEFA
Title: Basis of Presentation:
Accounting Policies: Summary of Significant Accounting Policies:Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization uses the 10% de minimum indirect cost rate.
The accompanying Schedule of Expenditures of Federal and Certain State Awards (the Schedule) includes the federal grant activity and certain state grant activity of SFJAZZ for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of SFJAZZ, it is not intended to and does not present the financial position, changes in net assets, or cash flows of SFJAZZ.